Bitcoin recently reached its highest price since June, nearing $69,000, fueling optimism among traders. Some predict a retest of all-time highs, though a period of consolidation may come first.

Key macroeconomic data, such as jobless claims and the Fed’s Beige Book, could influence market movements this week. Despite excitement in the crypto community, mainstream interest in Bitcoin remains low, with Google searches for “Bitcoin” at a yearly low.

While Bitcoin’s price breakout above its seven-month downtrend is significant, opinions are divided on whether the trend has definitively reversed. Leverage in Bitcoin derivatives is rising, raising concerns about market volatility.

Though Bitcoin is approaching key resistance levels near $70,000, some traders are cautious, warning that the current rally may face corrections due to high leverage risks. Show Less